Great, think I understand now. For a new repeating Reminder, you have to follow at minimum a two step process.
1. Create a new List
2. Select List Color
3. Select Done
4. Then beneath the new List, tap on a new line and enter desired text
5. Then tap on the empty circle
Then you can add a schedule and required day, time, repeat frequency, and notes.

My issue with Reminders is when I want to set a location reminder. "Remind me at a location" is on, and when I choose Location and the map shows, I click the location address (that shows a red pin, Target), it will not stay on "When I arrive" which is what I want. Each time I click on "when I arrive" and the Target location has the gray bar, it slides back to "when I leave". IOS6 was much easier to use this feature.

This post has been very helpful. At the risk of hijacking the thread, I was wondering if anybody has figured out how to date-sort the Tasks or Reminder in iOS 7. I can't, for the life of me, figure this out. In iOS 6 it was straight forward and simple.

Great, think I understand now. For a new repeating Reminder, you have to follow at minimum a two step process.
1. Create a new List
2. Select List Color
3. Select Done
4. Then beneath the new List, tap on a new line and enter desired text
5. Then tap on the empty circle
Then you can add a schedule and required day, time, repeat frequency, and notes.

Have I over complicated this?

just slightly. You don't need to create a new list, you can use an existing one, nor do you need to select a colour.